Bronzeoak working on USD 233m of Philippine solar plants - report

Solar panels. Featured Image: D and D Photo Sudbury/Shutterstock.com

February 23 (SeeNews) - Bronzeoak Philippines Inc expects to complete this year a trio of Philippine solar parks for a total cost of USD 232.8 million (EUR 204.6m), a company official told the Philippine Daily Inquirer.

The renewable energy projects developer has set up a joint venture with a partner, whose name has not yet been disclosed, to build a 55-MW solar power station in the province of Negros Occidental. The total investment for this project is estimated at some USD 115.5 million, director Don Mario Y Dia has said, as cited by the newspaper on Monday.

The JV, called San Carlos Sun Power Inc, is seen to secure a notice to proceed (NTP) with that project in April or May, Dia added.

At the same time, Bronzeoak Philippines' venture with asset manager Thomas Lloyd Group is working on a USD-48.3-million scheme to expand the existing 22-MW Sacasol 1 solar farm by 23 MW. Also, the Philippine company is installing a 33-MW solar plant in La Carlota for a total cost of USD 69 million.

The firm’s pipeline also includes the 18-MW Sacasol 2 and 25-MW Sacasol 3 projects in San Carlos. They will be developed later, according to the report.